QLD State Budget Announcement to affect Buyers
Stamp Duty rates are due to rise for most buyers, meaning that buyers will be well motivated to purchase before the Duty rates rise on Aug 1st 2011. Banks are likely to favour purchasers making buying decisions before the rate rise, due great savings to be made on Stamp Duty. Buyers considering entering the market are well advised to make the move before the rates rise on Aug 1st to make the most of this saving.
The $7,000.00 First Home Owner Grant is still applicable and first home buyers will continue to receive a first home concession on their transfer duty costs.
Building Boost Grant
A $10,000.00 Building Boost Grant will be introduced for people and corporations building or buying a new home for occupancy or rental investment. This will be current for the period 1 August, 2011 to 31 January, 2012 and will be available on homes less than $600,000.00.
Find out more
Download the official information documents issued from the Queensland Government: